ONEOK, Inc. (NYSE:OKE) Shares Sold by Donaldson Capital Management LLC

Donaldson Capital Management LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 23.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,613 shares of the utilities provider’s stock after selling 5,253 shares during the period. Donaldson Capital Management LLC’s holdings in ONEOK were worth $1,768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its position in ONEOK by 4.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock worth $260,000 after buying an additional 96 shares during the last quarter. McAdam LLC raised its position in ONEOK by 3.8% during the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock worth $262,000 after buying an additional 96 shares during the last quarter. Alliance Wealth Advisors LLC raised its position in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC raised its position in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA raised its position in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Scotiabank lowered their price target on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Barclays lowered their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

ONEOK Price Performance

Shares of NYSE OKE opened at $91.46 on Tuesday. The stock has a market cap of $57.10 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52 week low of $76.23 and a 52 week high of $118.07. The company’s 50-day moving average price is $99.81 and its 200 day moving average price is $99.49. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. As a group, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is currently 79.69%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.